T. Rowe Price
QM U.S. Value Equity Fund - I Class

Open to new Retail investors
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Open to subsequent Retail investmentsMinimum initial investment $1,000,000, certain exceptions may apply.Minimum waived for I Classes offered through Workplace Retirement plans.

U.S. equities rallied through late June, in part, because of central bank stimulus measures in Japan and Europe and the U.S. Federal Reserve's decision to delay additional interest rate increases. Near the end of June, global equities plunged in response to a referendum in which UK citizens voted in favor of leaving the European Union. As our reporting period ended, however, world markets rebounded amid hopes for new stimulus measures from central banks in the UK and elsewhere.

The QM U.S. Value Equity Fund - I Class returned 3.10% in the quarter compared with 4.58% for the Russell 1000 Value Index. The Since Inception (02/26/2016) total return was 9.60% as of June 30, 2016. The fund's expense ratio was 0.71% as of the most recent Prospectus.

For up-to-date standardized total returns, including the most recent month-end performance, please click on the Performance tab, above.

Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results.
Share price, principal value, and return will vary and you may have a gain or loss when you sell your shares.

We favor stocks that appear inexpensively valued relative to their respective industries and the overall equity universe. We try to avoid value traps, as well as distressed firms with high leverage that may appear to be artificially cheap. We seek companies with high-quality characteristics, which include a high return on capital employed, good earnings quality, and stability of earnings. Sector neutrality versus the Russell benchmark can help us avoid risks due to large moves in any individual sector. However, we may take larger positions in sectors where we see attractive value stocks relative to the other T. Rowe Price QM funds.

In the U.S., the direct implications of the UK's decision to leave the EU appear to be minor, but there seems to be a consensus that this will cause global economic growth-especially in the UK and continental Europe-to decelerate. One positive side effect of all these developments is a reduced likelihood of interest rate increases this year by the Federal Reserve. Continued low interest rates are likely to provide a boost to the housing market and consumer demand. The stubborn low-growth environment around the world is likely to further delay Fed rate hikes. Overseas, other central banks are expected to take all necessary measures to lessen the impact of any potential slowdown due to events in the UK.

The mutual funds referred to in this website are offered and sold only to persons residing in the United States and are offered by prospectus only. The prospectuses include investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing.Download a prospectus.